PEPR finalises three-year extension to bank loan with Deutsche
Pfandbriefbank
(Thomson Reuters ONE) - News release ProLogis European Properties finalises three-year extension to bank loan with Deutsche PfandbriefbankLuxembourg - 10 August 2009 - ProLogis European Properties (Euronext:PEPR), Europe's largest owner of modern distribution facilities,announced today that Deutsche Pfandbriefbank (formerly Hypo RealEstate) has finalised a three-year extension of the secured bankloan, originally due to mature in March 2010, in line with theannouncement made on 23 July 2009. The loan has been reduced from?151.1 million to ?126.0 million, with the difference being repaidwith cash from operations.The ?126.0 million loan has been extended to March 2013 and remainssecured on a portfolio of 24 Central European properties. The keyterms of the extension agreement are at a fixed interest rate of5.24% per annum, effective immediately, with an initial loan-to-valueof 55% and no amortisation of loan principal.Peter Cassells, chief executive officer, said: "This extensionrepresents another important step in our successful debt reductionand refinancing programme. We are delighted to extend ourrelationship with Deutsche Pfandbriefbank, an existing lender forPEPR, and look forward to working with them in the future. Thistransaction further demonstrates the attractiveness of our portfolioacross Europe and our ability to successfully access the capitalmarkets." -Ends-For further information, please contact:Investor relationsProLogis European Properties +44 207 518 8708Jennifer van der Eem, VP Investor Relationsjvandereem(at)prologis.comMediaM:Communications +44 20 7153 1523 or 7153 1549Ed Orlebar / Charlotte McMullenorlebar(at)mcomgroup.com / mcmullen(at)mcomgroup.comAbout ProLogis European Properties (PEPR)ProLogis European Properties, or PEPR, which listed on EuronextAmsterdam on 22 September 2006, is the largest pan-European owner ofhigh quality distribution and logistics facilities. Established in1999, PEPR is a real estate investment fund (organised as aLuxembourg closed-ended fonds commun de placement) externally managedby a subsidiary of ProLogis (NYSE: PLD), a leading global provider ofindustrial distribution facilities.As at 30 June 2009, PEPR has a portfolio of 232 buildings, covering4.9 million square metres in 11 European countries, with an estimatednet open market value of ?3.0 billion. The portfolio has anoccupancy level of 96.9% and an average of 3.6 years to the nextlease break or 5.8 years to lease expiry.This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 10.08.2009 - 09:01 Uhr
Sprache: Deutsch
News-ID 4515
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